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' tax rates are going up. the americans paycheck will get a lot smaller. that would be the wrong thing to do for our economy. it would hurt middle-class families and it would hurt the businesses that depend on your spending. and congress can prevent it from happening, if they act now. leaders in congress are working on a way to prevent this tax hike on the middle class and i believe we may be able to reach an agreement that can pass both houses in time. but, if an agreement is not reached on time, i will urge the senate to hold an up or down vote on a basic package that protect the middle tax from the income tax hike, extends vital unemployment insurance and lays the groundwork for future progress on more economic growth and deficit reduction. i believe such a proposal could pass both houses with bipartisan majorities, as long as these leaders allow it to come to a vote. they still want to vote no, let tax hikes it the middle class, that is their prerogative. but they to let everybody else vote as well. that is the way this is supposed to work. we just cannot afford it politically self
off that fiscal cliff. the deadline's tuesday. if the deal isn't reached, taxes will go up on just about everybody. and massive spending cuts will kick in. >>> in india, the young woman gang-raped on a new delhi bus is dead. doctors say she died peacefully at that singapore hospital where she was being treated. authorities plan to add murder charges against the six suspects arrested in that rape. the charges will be filed thursday. angry protesters have been demanding justice and more protection for women. and police expect more demonstrations in the days to come. >>> four people are dead after a plane crashed at the moscow airport. four others were injured. eight people were on board, all of them crew members when the plane overshot the runway. don't go away. at 2:00 p.m. eastern, the top stories of the day including that growing outrage over russia's adoption ban. hundreds of americans are frantic after being told their adoptions are not going to go through. we'll also take a look back at the year in politics and the fierce battles the unexpected alliances and of course the best
that would let taxes rise on the wealthiest households while protecting the vast majority of americans from tax hikes set to hit in january. welcome to the saturday edition of "and the washington journal." for the first 45 minutes of the program we are going to be talking about senate negotiating a fiscal clifts deal, what has been going on on that half of the capital. see what they are talking about and how things are going. we want to get your input and your part of the conversation. you can reach out to us on twitter. facebook, facebook.com/cspan. and you can send us an e-mail. this is more from the article, the lead story in "the washington post." they ride, the development marked a breakthrough after weeks of paralysis. joining us by phone is one of the authors of that article, and, laurie, welcome to the program. tell us, what kind of a deal did the president offered? what is new in the negotiations among the senators and between the senators and the white house? caller: there does not appear to be anything new. the policies they are talking about are the senate has been on the table
with president obama and signals conservative republicans are inwilling to stomach any rise in tax rates even on those making more than $1 million which was mr. boehner's plan. so walk us through what happened on friday. how did we get there? and it seems like the speaker of the house didn't see this coming, and a lot of folks in washington want to know why not? guest: we begin the week with the speaker of the house saying negotiations between he and president obama had stalled. they were stuck on their -- i guess i would say maybe not their final offers but current offers. boehner said he would raise taxes on those making a million a year or more and get all told $1 trillion in tax increases which he wanted to be matched with $1 trillion in spending cuts and the rate increases on those making $1 million or more and remove loopholes and deductions to get the rest in revenue and then you had your spending cuts. the president, sort of depends on how you do your math and counting, but the president -- by scoreible math the president would have been at $1.3 trillion in tax increases and $900 bil
that protects the middle class from an income tax hike, extends vital unemployment insurance for americans looking for a job, and lays the groundwork for future progress. such a proposal could pass both houses with bipartisan majorities, as long as these leaders allow to come to a vote. if they still want to vote no, that is their prerogative. but they should let everybody else vote as well. that is the way this is supposed to work. we cannot afford a politically self-inflicted wound to our economy. the economy is growing. the folks you sent to washington have to do their jobs. the housing market is healing, but that could stall if folks are seeing smaller paychecks. unemployment rate is lowest it has been in 2008, but already families and businesses are starting to hold back because of the disfunction they see in washington. you meet your deadlines. you meet your responsibilities every single day. the folks you sent here to serve should do the same thing. we cannot let washington politics get in the way of america's progress. we've got to do what it takes to protect the middle class, prot
a deal. we may still get hit with an automatic tax hike. how much will that cost you? in time for the new year, a new snowstorm headed to the northeast. we'll let you know how bad this will get. and the yore in review, up with of the most unique and appalling takes on the year in review. good morning to you all. welcome to weekends with alex witt. no alex today. taking a much deserved weekend off. i'm t.j. holmes, good to be with you. new this morning, president obama outlining his course of action if we all go off the cliff. >> if an agreement isn't reached on time, then i'll urge the senate to hold an up-or-down vote on a basic package that protects the middle class from an income tax hike, extends vital unemployment insurance for americans looking for a job and lays the ground work for more economic growth and deficit reduction. >> the president is optimistic that a deal can be reached midnight on new year's eve. listen to senate minority leader mitch mcconnell. >> we had a good meeting down at the white house. engaged in discussions in the hopes we can come forward as early as sunday
as many americans as the president will permit, or we can end up at an impasse that ensures taxes go up on everyone. let us pass this bill. if it does not work, let us pass whatever level the president will agree to. is not as if we have not repeatedly warned him. my conservative colleagues say sparing some people these tax increases is tantamount to racism among others. a lifeguard who sees 10 swimmers drowning, if he can only save nine, that does not mean he has drowned the 10th one. no lifeguard would be worth his pay if he said, my principle is nobody should drowned off my beach. if i cannot save them all, i will not save any. americans watched as thousands of middle-class jobs are sacrifice on the ideological obama next year, this country will be a lot wiser. until then, let's save the weekend. >> the done in's time has expired. >> i am pleased to yield three minutes. >> the gentleman from michigan is recognized for 3 minutes. >> this is an important moment. these bills move the nation dangerously closer to the cliff. with only 11 days before our nation will go over. they make find
be shielded from tax increases, and now he wants an extension of unemployment insurance. that is something that essentially a nontarter in a republican-controlled house. now he is leaving it up to the two leaders in the u.s. senate try to reach a compromise. something perhaps along the line of what is being negotiated between the speaker and the president a couple of weeks ago. perhaps a tax increase for amounts of more than $400,000 or $500,000 per year. also, senate leaders want to include something on the estate tax, according to a white house official. we'll can also be key to this is that the white house officials are also telling fox news and ed henry that it appears as though the debt ceiling is not part of that. this is a huge nonstarter for republicans in the house. they want any dollar and increase of the debt ceiling to also involve a dollar in cuts over 10 years. if they don't have those corresponding cuts, it is unlikely that many of them will vote for an increase in the debt ceiling. removing them from the equation helps pave the way, at least for what will really be describe
and constructive discussion at the white house with senate and house leadership about how to prevent this tax hike on the middle class and i'm optimistic we may still be able to reach an agreement that can pass both houses in time. >> now what would be in that mini deal? we're talking about tax increases for people at near the top of the income scale. the question is the threshold, 400 or $500,000 are the likely places that that could end up. it would likely turn off the automatic sequester by using some of the revenue from the tax increases to account as budget cuts and turn off they is quester and it would also extend unemployment benefits and do the so-called doc fix to prevent reimbursements from declining and also have a milk fix, michelle that would prevent the doubling of milk prices which would occur without an extension of subsidies. >> why aren't people more optimistic? i haven't heard about enough spending cuts that would bring republican spending cuts. why are republicans more optimistic now? >> they're concerned spending cuts would not be a part of this deal. i talked to an aide who s
that has the pedal to the metal. what you and i have talked about before repeatedly, $4 in taxes for every dollar in phantom spending cuts. that's fiscal irritation, but the health of corporate america will be what ultimately prevails. >> sounds like david has been reading your book, rick santelli. >> it does. >> big fan of rick. >> this is such a perverse world we live in, okay. let's look as what's happening. down 158 in stocks and that pushed the ten-year yield under 170, okay. >> really. let me get this straight. they can't get a deal on controlling out-of-control debt, so rates go down. i used to trade during graham/rudman and i remember when they couldn't get deficit conversations right, treasuries went down and stocks went down. oh, would i love to get back to that type of reality. >> yeah. but you had a different guy at the federal reserve at the time. >> yeah, a different guy, you know, in hindsight he was maybe the monetizer in charge -- in chief, and we get a little historical perspective on that, but as many things that i disagree with alan greenspan on, i thought he was at lea
. why? this would give democrats everything they want. they would get to raise taxes, and then, to top it off, the shoulders of republican mÑwxj >>> and watch this. >> american people, i don't think understand the house representative is operating without the house of representatives. it's being operated with a dictator ship )÷!>> let him take the country over the fiscal cliff if he so chooses. they were elected to get the fiscal house in order. now is the time for republicans to stand up for your kids and grandchildren. maybe she the should say they're looking out for the future, future generations maybe now is the time to take a stabbed stand and say they're not going let washington continue with this out of control spending, debt, maybe now, at this moment, maybe that is the right thing to do. and joining me now with reaction to this developing story are two house republicans, congressman louie gomert. welcome back to "hannity". >> good to be with you. >> sean, i can -- . >> sean: go ahead. >> i can sympathize that he can not imagine our consciences in the house because you'
: the president is getting higher taxes if we go over the cliff and he can go back and change the tax rate for those making $250,000 or less. the speaker saying it has to be $1 million or above. the president much more in the driver's seat. guest: yes and no. let's say we go over the cliff and that's the markets are in a panic and people have paychecks that have less money in them. people will not necessarily blame john boehner. they will blame the president. he has political capital that could evaporate. i'm not sure if he gets what he wants -- that is not how american politics necessarily works. host: what led to this meeting? harry reid was sounding pessimistic early in the day. then john boehner calling the house back sunday evening with a vote scheduled after 6:00 p.m., setting up a late sunday session or a lot of fireworks on monday. guest: the redskins-cowboys game is on sunday night. each side staked out a public position it had to stake out. use it at the end there's a sentence saying, but we will talk or negotiate. nothing unusual here to me. i think right now they are doing what
to washington. congress is also coming back tomorrow. there's less than one week left to avert the tax hikes and automatic cuts that go in to effect january the 1st. it looks like any deal will be a lot smaller than everyone want. >> realistically, i personally i don't think we'll get the big plan in the next six days. be great if we could . >> but this morning, bernie sanders said the blame is with the republicans. >> there's really a great deal of concern that the republican party failed to do anything. that it seems that in the house now boehner has no control over his extreme right wing faction. >>> want to bring in david nakamara and meredith shiner. david, i'll start with you. you know, the president coming back for appearance sake as some might say or, you know, when we look at what he can do tomorrow what might he have in the works here? >> richard, i think to get a look at that, look at friday scaling down the proposal. he said i want a big deal ultimately but before the new year we don't have time and probably going to work with senate -- the senate to sort of come up with a possib
and starting next week, you and i could see our paychecks cut as payroll taxes go up and that could be just the beginning. the clock at the bottom right of your screen there might as well have a blaringa, large on it because come midnight monday if lawmakers have not found the fiscal cliff solution you're going to hear a whole heck of a lot of noise. let's get straight to washington. nbc's kristen welker at the white house and luke russert is tracking developments at capitol hill and nbc news senior political editor mark murray is here to break it down for us from the washington bureau. we will start with kristen. last we heard, kristen welker, the president came out to report that he is modestly optimistic. has the rhetoric changed at all today? >> reporter: it has changed a little bit. the president is still modestly optimistic, but i just spoke with a democratic source who tells me at this hour a deal is looking doubtful. of course, we want to underscore the fact that these negotiations are very fluid so that characterization could change at any moment, but it seems as though the discuss
to avoid some of the tax parts of the fiscal cliff. it would keep tax cuts for the making $250,000 a year or less, extending unemployment benefit and with the clock ticking delay dramatic spending cuts until next year. >> i asked leaders of congress to work toward the package to prevent tax hike on middle class americans protects unemployment surance for 2 million americans. lays the groundwork for work on growth and deficit reduction. that is an achievable goal. >> today's meeting is the first with the president since november 16. sign for republicans that mr. obama has not really been pushing that hard for a deal. >> we need presidential leadership on in the just taxing rich people. >> three words the president did not use. he did not use the word sequester and he didn't say "debt ceiling" either. he focused most of his remarx on preventing taxes from going up. there are also massive spending cuts coming. no idea how they will avert that. he also did not mention the debt ceiling. earlier they wanted lifting the debt ceiling included. now it's clear it's not in the short-term package tha
. democrats would get to raise taxes on you, every american. they will get massive defense cuts that they have always dreamed of, and to top it all off they would also get to place the blame squarely on the shoulders of republican lawmakers. but this president is playing a very dangerous game of chicken with our economy. and yesterday they detailed how serious this situation is. in a let secretary geithner explains what will happen if the u.s. hits the debt ceiling on the 31st and is not able to pay their bills. treasury department will have to take extraordinary measures. i'm not sure what he hopes to achieve by sending that letter because the senator leader has showed he's incapable of acting. they have not passed a budget in the u.h. senate in over 1,000 days. and in speaking on the senate floor instead of offering solutions senator reed started pointing fingers again and again. watch this. >> if we go over the cliff, and it looks like that's where we are headed, the house of representatives, as we speak, with four days left, aren't here with the speaker having told them he will give them 4
-down deal that would spare the middle class from tax hikes on the first of the year. the president met with harry reid and spoke with john boehner. is a grand bargain still possible when everyone is leaving town? >> a week from the shooting massacre that left 20 children and six educators dead, we have heard plenty of people calling for new gun control laws but very little from the national rifle association until now. in a bizarre news conference, the head of the nchl ra said the solution of gun violence in this country is simple, more guns. armed officers in every school. it is the same line we have heard before from the nra. has the country's relationship with guns fundamentally changed since newtown. what we saw last night from house republicans is yet another symptom of a real problem for the gop. they don't believe in compromise. they have lurnlged too far to the right. president obama tapped kerry to be the next secretary of state. let me finish with the great new movie about getting bin laden and how one person can make a huge difference. we begin with where things stand on the
, what's hanging on the edge of the cliff is higher taxes on dividends. coming up, the chairman and ceo of southern company owning a bunch of power companies in the south tells us why the tax hike would be a huge blow to his industry, a blow everybody will feel as usual. it's passed on to you, the consumer. >> financials a big winner up this year we have an analyst who expects the gravy train to roll on next year. find out the banks he likes for 2013. david: a lot to cover, but first, what drove the markets with the data download. ending the week down more than 1.5%. lack of progress, of course, in the miscall cliff negotiations, and all ten s&p sectors in the negative tear -- territory the second week in a row. oil slipped into the red today, but finished the holiday shortened weekend positive. notching at 2.4% gain to end the week, again, over the $90 mark, $90.80 a barrel. home sales jumping to the highest level in two and a half years last month. the national association of retailer -- excuse me, realtors. index rose 1.7%. >> good news. we have sandra smith in the pits of the cme, a
aboutrd. now, the president campaigned on raising taxes on people making more than $250,000 a year. the bush era tax cuts will expire at the end of this year. obama was elected with a surplus of about 3 million votes. he won the election. he campaigned on this issue. again, the speaker can't take yes for an answer. the president has presented to him something that would prevent us from going over the cliff. it was in response to something the speaker gave to the president himself, but, again, i guess with the dysfunctional republican caucus in the house even the speaker can't tell what he's going to do because he backed off even his own proposal. mr. president, the house, we hear this so often, is controlled by the reap warnings and we acknowledge that. i would be most happy to move forward on something that senator mcconnell said they wouldn't filibuster over here that he would support and that boehner would support, if it were reasonable, but right now we haven't heard anything. i don't know, and it's none of my business, i guess, although i am very serious, if the speaker and th
think that we will get some kind of last minute deal, which raises taxes on people who are successful, making serious money. forget about any spending cuts, i don't think that's going to happen and they make promises, but they're not actually going to do it and they'll simply ignore the debt. i think that's what's going to happen. do you agree? >> i'll take that bet. i don't think that's going to happen. i don't think that republicans will agree to any tax increases without spending cuts. i think they've been clear about that. stuart: we go over the cliff. >> they're not going to cave. i think they're going to extend the deed line and see credit downgrade. and i think we're going to fight about this through 2013 unfortunately. stuart: and as if falling off the fiscal cliff isn't enough to push us off another recession, it could of course. tomorrow at midnight a longshoremen's strike could shut down ports at east coast and the gulf. and the strike could disrupt about, we figure, 2 million tons of imported cargo per day and of course, it would cost the economy billions. it could have ma
. a last minute mini deal could be struck before the end of the year that would preserve tax cuts for the middle class and preserve unemployment benefits. the president raced to the microphones and said the following after this meeting. watch. >> i just had a good and constructive discussion here at the wows with senate and house leadership about how to prevent this tax hike on the middle class and i'm optimistic we may still be able to reach an agreement that can pass both houses in time. senators reid and mcconnell are working on such an agreement as we speak. >> sean: here is what you need to remember. number one, the whole fed iasco was totally and completely avoidable. number two, senate democrats have not fulfilled their constitutional duty to pass a budget in over three long years. over 13 hyundais. their obsession has been and continues to be ruthless politics over doing what is right for you, the american people. now, number three, not once in the time has president obama demanded that the senate do their job. this is the height of irresponsibility. number four, the presi
that immediately. senate democrats saying we passed a bill that raises tax rates on incomes over $250,000, we ran on this and this is what we are offering. house republicans were saying, no, we want to negotiate something, figure it out and send it to us. someone is going to have to move. who? the president met with senate majority leader harry reid before going to hawaii and his offer was to extend the tax cuts for incomes under $250,000, extend unemployment insurance benefits, and the lady across the board automatic cuts that are supposed to start january 1. that seems to be a non starter with republicans. it's hard to see where we go from here. host: have they been talking over the christmas break at all? also, one has been the role of senator mitch mcconnell? guest: the line that comes from the speakers office all the time is the line of communication remain open. i don't know how much talking they did as the president was in hawaii spending time with his family and the speaker was back home in ohio, i believe. i don't know that for sure. everyone was doing their family time and not really wo
and said he was modestly optimistic about a deal on taxes. meeting this the red room, president obama held firm for tax cuts for families making up to $250,000 per year, and joining me on the north lawn of the white house is kristen welker. kristen, let's listen to what the president said about and up or down vote or what he expects from the senate. >> i had a good and constructive discussion here with the leadership about this tax hike on the middle-class. i am optimistic that we can reach an agreement that will be passed in both houses. if an agreement is not reached in time between senator reid and senator mcconnell, then i will urge senator reid to bring to the floor and up or down vote for the floor, and i believe a p proposal could pass both houses with majorities as long as the leaders allow it to actually come to a vote. if members of the house or the senate want to vote no, they can. but we should let everybody vote. >> kristen, this up or down vote seems to be be the big news of the day, and isn't this what the white house wanted all along? >> well, it is. it is prp's way of sayi
in a speech a week ago which is to keep taxes where they are for families earning less than $250,000 a year and to extend long-term unemployment insurance benefits that is basically just a small slice of what the president had been proposing for quite some time. the administration official also says that the president is putting it on republicans to come up with a counteroffer that they say can pass the house and the senate. if not, the president said, he wants an up-or-down vote on his proposal in the house or the senate. so congressional leaders left here. other than house minority leader nancy pelosi i'm now hearing senate majority leader harry reid has joined her in making comments back at capitol hill. we'll let you know what they say as soon as that is transmitted to us. there are other directed comments they made little progress something they have been saying after the meetings the last few months. adam? >> we're looking to turn around reid's comments so we all can hear them. when you talk about the president he is up-or-down vote, someone referred to this as plan-c. is this the off
new rasmussen poll, 44% think that republicans are more to blame for not going far enough on tax increases. 36% say that obama is more to blame for not agreeing to more spending cuts and 15% blame both sides. joining us now from new york, julie riganski, a democratic strategist and here in washington, steven moore, a member of the "wall street journal" editorial board. sesteven, let's start with you. great to hear harry reid on this. the last time i checked the do so called proposal that a he put forth in july didn't really receive any support and only dealt with tax increases. it wasn't a comprehensive deal and didn't involve real spending cuts it was just raise tax and it went no where. for him to blame republicans, come on. >> don't forget, it has been 13 hyundais since hair arery reid even passed a budget out of the united states senate. we don't even know what the united states senators stand for in terms of the budget debate. the same thing on taxes. the house actually passed a lot of people don't know that earlier this year the house passed a bill to extend all of the bush
, the only thing is he'll be proposing to his caucus a tax cut. everybody changes on january 3rd. you're no longer talking about some people getting a tax increase. harry reid and john boehner for instance said -- the speaker saying the senate should take it up. harry reid is speaking on the floor. let's take a listen. >> because americans' taxes are approaching the wrong direction come the first of this year, americans will have less income than they have today. if we go over the cliff, the house of representatives, as we speak, with four days left after today before the first of the year aren't here with the speaker having told them they'll give them 48 hours notice. i can't imagine their consciences where they are around the country and we're here trying to get something done. they are not in washington, d.c. the house of representatives are not here. they couldn't even get the leadership together yesterday. they had to do it with a teleconference. republican leadership. if we go over the cliff, we'll be left with the knowledge that could have been about a single vote. mr. speaker,
is more affected by what happens in washington financial sector directly affected by the fed, by tax policy, etc., the financials had a turnaround as well. i think they are still generally negative. the dow is now negative, but just by a couple ticks. again the turnaround is story. financials in general today, tell us how they did. nicole: the one i would talk about that really represents what went on with the financials is bank of america. bank of america hit a 52 week high, sold off, was like a number one loser in if the dow, number two loser in the dow and then moved back and came up off the lows. so it shows you the financials really drive the market one way or another. you really get a good feel. david: bank of america is up over 100% this year even with today's loss. it has incredible turnaround. [closing bell ringing] shibani: the bells are ringing on wall street. it was a roller coaster ride of a day. let's take a look at how stocks are finishing up. it's well on the fence here as to where we're going to close. the dow is lower right now. down about 20 points. the s&p 500 dow
decisions on taxes and spending to the future. again, in an afternoon white house meeting president obama pitch a debt plan he had outlined a week ago, prevent a tax increase for income of less than to an effective thousand dollars per year and extend long-term unemployment benefits. senate leaders are using that framework to try to craft a proposal to pass both houses of congress. aides say it would likely increase the threshold for tax increases, reversing massive pay cut from medicare doctors, and elections of millions of americans to avoid paying the alternative minimum tax. an increase in the debt ceiling is not part ofhe discussion. that is significant development r house republicans who won any increase in the borrowing limit it accompanied by an equal amount in spending cuts taking the debt ceiling of the table making it much easier for the scaled-down version to be negotiated. from here senate leaders will try to secure an agreement by sunday morning. if so, democrats and republicans will try to sell its house and senate members. if they can do that the voting begins. there is so
of america. that's why you've heard so much conversation about raising taxes. you raise taxes on the top 2% and you almost overnight, within the first 12 months, eliminate about 700,000 new jobs. you tack that on top of the regulatory reform, you're talking another 800,000 jobs "lost in america." so that's 1.5 million more americans out of work on top of 23 million americans. that's not the right direction. so my objective would start with a conversation of tax reform and spending control. >> \[inaudible] >> i would think that most americans are members of the tea party principally. we believe in limited government. we believe in lower taxes. we believe in keeping the government out of your pockets. if you believe in freekts, -- free markets, those are the basic tenets of the tea party. i would hope we all believe in that. that would be a decisive yes. >> \[inaudible] >> you look at his scorecard with the heritage action. he was a 98 and i was closing in on i think it was a 090. there was a couple that separated us, maybe some of the more well-known votes. other than that, i'm not quite su
. fiscal faceoff or new year's resolution. also one tax that will go up. marilyn monroe closely watched by the fbi. director's feud over "django unchained" and a chance for 100 lucky people to star in the super bowl halftime show alongside beyonce'. details on those stories throughout the hour. >>> but up first, right now senate leaders scrambling to find common ground to avoid going over that fiscal cliff. got less than three days to go now, folks. at the same time in his weekly address today, the president says he's preparing a plan of action if no deal is reached. >> if an agreement isn't reached on time, then i'll urge the senate to hold an up or down vote on a basic package that protects the middle class from an income tax hike, extends vital unemployment insurance for americans looking for a job, and lays the ground work for future progress on more economic growth and deficit reduction. >> republicans say they want a deal as well, but they highlighted their biggest sticking points today in their weekly address. listen now to missouri senator roy blount. >> senate democrats have sp
a deal before taxes go up on more than 160 million americans. after the meeting, the president presented a new plan to avoid the cliff and said he was modestly optimistic. >> we had a constructive meeting today. senators reid and mcconnell are discussing a potential agreement where we can get a bipartisan bill out of the senate over into the house and done in a timely fashion so that we met the december 31st deadline. given how things have been working in this town we have to actually wait and see until it actually happens. the one thing that the american people should not have to wait and see is some sort of action. so if we don't see an agreement between the two leaders in the senate, i expect a bill to go on the floor. and i have asked senator reid to do. this put a bill on the floor that makes sure that taxes on middle class families don't go up, that unemployment insurance is still available for 2 million people, and that lays the groundwork then for additional deficit reduction and economic growth steps that we can take in the new year. >> joining us now from capitol hill. south da
are working with the white house. plus, what it all means for your paycheck as higher payroll taxes are only days away unless congress acts. one step forward, two steps back. president obama and republican lawmakers have been dancing that waltz for six weeks now, but the music stops when the countdown clock at the bottom of your screen runs out. so where do fiscal cliff talks stand at this critical hour? nbc's kristen welker is on the north lawn and luke russert are both following developments this saturday afternoon. kristen, i'll start with you. any indication at this particular point as to what's happening behind closed doors this afternoon? >> reporter: well, i think most of the action is going on in the hill where staffers with majority leader reid and minority leader mcconnell are trying to conjure up some last-minute deal and this plan would not be the grand bargain that john boehner started initially working on. that plan would have dealt with tax reform and deficit reduction and this will be a much more scaled back version that will deal with the issue of taxes and that is still the
leader mitch mcconnell talking about doing something to keep more than trillion dollars in tax increases and cuts from taking effect next week. also joining that party today, america's happy warrior. vice president joe biden will be there. while some appear ready to compromise others are still ducking, dodging, trying to dump the blame elsewhere. >> we all have our ideas and in the senate, you're right. we probably another 40, 50, 60 of saying that we're ready to both raise revenues and control entitlements. when's the missing ingredient? it is presidential leadership. >> i think in the end we'll get a deal. the question is the timing. >> am hopeful there will be a deal that avoids the worst parts of the fiscal cliff, namely taxes going up on middle class people. >> it's pretty apparent that we are not going to do what we've been called to do. this is 112th congress. we have had two years to deal with quote the fiscal cliff. >> let's bring in our man at the white house, peter alexander standing by. pete, we just got word the president it appears is making some sort of smaller offer at th
to a deal. the white house had agreed to cut their tax ask by about 400 billion, to increase their spending cuts by another 400 billion and only ask for about half as much stimulus. they moved toward boehner by more than a trillion dollars. that was a lot of concessions from the team that had just won the election big. and they made them because they thought boehner was ready to say yes, the fiscal cliff would be averted, we'd have a good christmas and happy economic fun times for the economy would be right around the corner. they were wrong. >> we are nowhere when it comes to the fiscal cliff talks. let me tell you what's going to happen today. speaker john boehner, the republican speaker, is going to try to pass what he calls his plan b, which would just simply address tax rates for those making a million dollars or more and that's it. >> john boehner walked away from the obama administration's third offer. a giant, giant compromise. so he didn't like it when they led. he didn't like the 2340eshing. he decided instead to chart his own course called plan b. plan b was supposed to show pres
. christmas day, check this out. snow across the panhandle of taxes and oklahoma. snow in oklahoma and we'll watch this potentially be a major weather maker wednesday and thursday across the northeast. so if you've -- pretty good travel conditions to get to your destination for christmas. getting home from christmas might be a different story wednesday and thursday from this storm. >> weather 8, how many of these fancy map things do you have? >> not enough. let me tell you, but we've got five different systems we run the maps on and sometimes the wrong one gets plugged in. >> i see you studying this stuff all the time. thanks a lot. >>> the clock ticking down. can you believe it's nine days until spending cuts and tax hikes kick in for all of us? the president is standing firm on fiscal cliff negotiations and so much is at stake. why can't both sides reach a compromise? >> charlie, how are you? >> fine, good to be with you. >> great to have you here. good morning. look, they don't seem closer. everybody says they're compromising. i'm curious, do you feel from the president's point of view
. at a news conference with the speaker in a call to extend the tax rates. some have urged congressman tom price of georgia to challenge john deere for the job. much more on what is next for the fiscal cliff. one week before we reach that point. the deadline is december 31, january 1. the president is in hawaii. the house and senate are also in set -- in session this week. elliot engel, weighing in on a number of topics, including rumors that former republican senator chuck a bill could be nominated as defense secretary. you heard from the president on friday as he nominated senator john kerry as secretary of state and the new speculation about chuckle over at the pentagon. here are the comments of congressman dingell, the incoming democratic member of the house foreign affairs committee. but there is a huge opposition to the potential nomination of chuckled to become the next secretary of defense, even the president obama has not made his decision. the former senator has come under fire for statements he has made, including one where he referred to the pro-israel lobby as the "jewish lobb
families the payroll tax cut that started two years ago is worth around 1000 as year. those families tend to spend that cash because they need it now. republicans say this is one tax cut they hate and the last time it was going to expire, the white house launched a whole campaign about $40 a paycheck. they asked families to send in their stories about what $40 meant to them. well, you know something? $40 a still a lot of cash for the families hit hardest by the great recession. for the wealthy people sitting around the negotiating table in d.c., $40 is just another steak dinner for one. but for many people who voted them into office, it's the cost of groceries for a week of family dinners. let's not forget, they are the ones who still need an economic stimulus, not the families earning more than $250,000 a year. joining me today on a newsy day, "the huffington post" sam stein and the national reviews robert costa. sam, i want to start with you. you have been reporting this out all day, and we know that congressional leaders are with the president this afternoon. they haven't made comments
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